Yogi government puts focus on business expansion in Greater Noida

In a bid to expand business footprint in Greater Noida as part of the broader mission of making Uttar Pradesh a trillion-dollar economy, the Yogi government has expedited the process of allocating land to companies.

In line with the vision of Chief Minister Yogi Adityanath, the Yamuna Expressway Industrial Development Authority (YEIDA) has invited applications for allotment of land in seven categories in Sector 22-A, Greater Noida.

The authority has set the deadline for receiving applications on October 16, while the electronic auction of plots of between 112 and 140 square meters is scheduled for November 7. The list of selected applicants will be announced on November 2.

Notably, only eligible applicants can participate in this scheme, which was launched in mid-September this year. Applicants must meet specific criteria to participate in the electronic auction plot allocation process. This includes maintaining a minimum net worth of Rs 3-5 million and a minimum solvency of Rs 1.5-2.5 million.

The plot will be available with a 90-year lease; 5 floors can be built.

All relevant details and brochures related to the scheme have been uploaded on the official website of YEIDA to help applicants collect the necessary information. Notably, applicants who want to be part of the land allotment process through the project will have the option to download the brochure by depositing an amount of Rs 10,000 and GST.

Applicants under this scheme will receive a land lease for 90 years, allowing them to build a commercial structure with a maximum height of five stories, including the ground floor, and utilize 100 per cent of the permitted area. To avail the benefits of this scheme, applicants have to submit a processing fee between Rs 25,000 and Rs 30,000 along with 18 per cent GST. An earnest money deposit (EMD) of Rs 29 lakh, Rs 32 lakh and Rs 36 lakh is required for plots of 112 sq m, 124 sq m and 140 sq m respectively.

Notably, due to their proximity to Jewar Airport, International Film City, Yamuna Expressway and Buddha Circuit, the plots acquired through this scheme will play a crucial role in expanding the commercial footprint in Greater Noida.

Those who buy land and set up a business unit under this scheme will benefit from all the facilities including better connectivity in this area and India's first world-class project in the form of pod transit system. The project is expected to open doors to great opportunities in the field of business activities in the future.